MU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0226%/8h= +24.8% APRnext payment +$0.28 per $10,000 · paid last 24h +0.041%

Price spread now: Phoenix against tradeXYZ+0.010%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on tradeXYZ Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.209%+$21 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.010%, 7d avg +0.059%

Together, before fees+0.216%+ Points / potential airdroptradeXYZ: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.050% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.059%). If the spread goes back, that is −$5 on $10k: about 18 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.209% in total) that is about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MU	1,052.2	0.0078	pay 0.0010% / 1h	32m 54s	$178.9M	$99.0M	10x
Short	Phoenix MU	1,052.3	0.0304	get 0.0038% / 1h	32m 54s	$538K	$271K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee tradeXYZbpFee PhoenixbpOrdersPrice spread, now +0.010%Rate

Funding earned: $47.55
Price spread: +0.010% → +0.059%: −$5
Slippage, 4 orders: −$20.77
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$3.22
Costs to cover: 0.458%
Break-even: 7.5 days

Slippage from tradeXYZ: live order book, 7 min ago; Phoenix: live order book, 25 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy tradeXYZ live order book, 7 min ago	0.47 bp	10.3 bp −$10	11.9 bp −$119	17.4 bp −$1,738	doesn't fit
Sell Phoenix live order book, 25 min ago	3.80 bp	13.0 bp −$13	29.3 bp −$293	doesn't fit	doesn't fit

MU on 37 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX MUUSDC	−0.0164%	4h	1,052.3	+0.006%	$1.3M	$672K	10x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,052.5	+0.026%	$31.2M	$99.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.5	+0.031%	$334K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.3	+0.005%	$62.3M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.5	+0.026%	$82K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.7	−0.045%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,054.3	+0.200%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,052	−0.015%	$69K	$424K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,052.3	+0.008%	$131K	$436K	50x	as long as short
Aster MUUSD1	+0.0003%	8h	1,052.2	−0.002%	$21.4M	$55.0M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps MUUSD	+0.0019%	1h	1,052.2	+0.004%	$3K	$45K	10x	as long as short
Bybit MUUSDT	+0.0025%	8h	1,052.7	+0.051%	$19.1M	$32.3M	100x	as long as short
Variational Omni MU	+0.0032%	8h	1,052.2	+0.003%	$2.7M	$2.4M	—	as long as short
Lighter RH MU	+0.0032%	1h	1,052.3	+0.013%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,051.8	−0.040%	$564K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.080%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,052.3	+0.006%	$7.2M	$17.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,052	−0.017%	$71K	$234K	10x	as long as short
Bullet MU-USD	+0.0044%	1h	1,052.6	+0.038%	$25K	$397K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.5	+0.122%	—	$176K	25x	as long as short
Nado MU-PERP	+0.0048%	1h	1,051.9	−0.025%	$282K	$842K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,052.2	0.000%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052.3	+0.011%	$691K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.4	−0.073%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,052.5	+0.029%	$2K	—	5x	as long as short
Lighter MU	+0.0056%	1h	1,052.4	+0.021%	$1.1M	$5.1M	20x	as long as short
Binance MUUSDT	+0.0066%	8h	1,052.5	+0.025%	$126.8M	$517.2M	50x	as long as short
tradeXYZ xyz:MUlong	+0.0078%	1h	1,052.2	long leg	$178.9M	$99.0M	10x
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.1	−0.007%	$758K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,052	−0.017%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052.2	−0.002%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052.2	−0.004%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052.7	+0.051%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052.4	+0.018%	$837	$799	20x	as long as short
Bitget MUUSDT	+0.0110%	8h	1,052.4	+0.021%	$20.5M	$41.1M	50x	as long as short
BloFin MU-USDT	+0.0186%	8h	1,052.6	+0.033%	$1.5M	$2.0M	20x	as long as short
Phoenix MUshort	+0.0304%	1h	1,052.3	+0.010%	$538K	$271K	15x